New Britain Palm Oil Share Discussion Threads

[protean] 25/2/2008 21:59

This one also interesting -

[protean] 25/2/2008 21:54

- there still seems to be a bullish outlook for the palm oil price. Amazing the rise so far and the shares may still be playing catch-up.

[billfisher98] 25/2/2008 17:04

Strong move along with the other palm oilers.

[wildchild] 25/2/2008 17:04

Anyone know when results are due ?

[tonyx] 25/2/2008 16:35

Excellent stuff. Bought another 500 earlier on.

[melody9999] 25/2/2008 16:14

wouldn't say the MMs were short of stock but that is the first time I have seen L2 with no sell orders.

[nurdin] 25/2/2008 16:09

Some keen buying here today...and the chart in a break out mode :o)

[stegrego] 25/2/2008 08:13

Cheap Palm Oil May Overtake Soy on Rising Asia Demand (Update1)

By Claire Leow

Feb. 25 (Bloomberg) -- Palm oil, the world's most-used cooking oil, is also the cheapest, a discrepancy that won't last long as demand rises across Asia's biggest countries.

An ingredient in curries, stir-fries and Skittles candy, Malaysian palm oil costs 15 percent less than soybean oil on the Chicago Board of Trade. Tobin Gorey, a commodity strategist at Commonwealth Bank of Australia Ltd. in Sydney, said the two may soon be even money, raising the prospect of at least a $1.5 million profit from a $10 million investment.

Rising incomes mean billions of people in Asia's developing economies seek palm oil for fried and processed foods, according to the U.S. Department of Agriculture. Crude oil at $100 a barrel is boosting demand for alternative fuels such as diesel from vegetable oil. As consumption rises, supply in China may drop after the worst snowstorms in five decades damaged rapeseed crops in January, the government reported.

``We may have a case of mass shortage of vegetable oil in China,'' said Rudolphe Roche, a manager at Schroders Plc's $6 billion agricultural commodities fund in London. ``This means they will continue to import from the rest of the world.'' Palm oil, produced in Malaysia and Indonesia, will benefit the most because its proximity to China lowers shipping costs, he said.

Rising prices will increase expenses at Nissin Food Products Co., Japan's biggest instant-noodle maker, and increase profits at Kuala Lumpur-based Sime Darby Bhd., the world's largest publicly traded owner of palm plantations. About 36 percent of the world's cooking oil comes from oil palm, more than any other plant, USDA data show.

The Precedent

``Ninety-three percent of all the palm oil in the world is going to food demand,'' William Doyle, chief executive officer of fertilizer maker Potash Corp. of Saskatchewan Inc., said in a Feb. 19 interview. ``It's enormously powerful, and we don't see this backing off.''

The last time palm oil was this cheap, in April 2007, prices rallied for two months because of increasing demand, gaining 38 percent to 2,855 ringgit ($889) a metric ton on the Malaysia Derivatives Exchange to reach parity with Chicago prices. Contracts for May delivery ended at 3,698 ringgit a ton (52 U.S. cents a pound) on Feb. 22 in Malaysia. May soybean oil finished at 63.02 cents a pound on the CBOT.

Both palm oil and soybean oil reached records today, rising to 3,914 ringgit a ton and 64.47 cents a pound. Palm oil had its biggest intraday gain since November 2006, narrowing its discount to 15 percent from 17 percent.

Food Inflation

``There is no reason why the price of soybean oil and palm oil cannot be the same,'' said Edgare Kerwijk, chief financial officer for Biox Group BV in Rotterdam, which has put on hold plans for three biodiesel projects in the Netherlands and the U.K. due to higher prices. ``The discount will narrow'' for palm oil, he said.

U.S. manufacturers will increase consumption of soybean oil for energy by 22 percent to 3.4 million pounds in the year ending November, the USDA forecasts. The total equals 16 percent of U.S. use.

Soaring food prices are fueling inflation. China's consumer-price gains accelerated to 7.1 percent in January, the fastest pace in more than 11 years, the statistics bureau said Feb. 19. U.S. inflation quickened to 4.3 percent in January from 4.1 percent in December, the Labor Department said Feb. 20.

China's January snowstorms and rains, the worst in 50 years, affected as much as 48 million mu (7.9 million acres) of rapeseed crops, almost half the total area planted, the China National Grain and Oils Information Center said Feb. 14.

China, U.S.

China, the biggest annual buyer of cooking oils, raised palm oil imports 18 percent in January to 360,000 metric tons, compared with a year earlier, according to customs figures. India boosted imports 75 percent to 366,353 tons that month, and imports of all cooking oils may gain 15 percent to 5.4 million tons in the year ending Oct. 31, according to a Bloomberg News survey of six traders and analysts.

``With the strong demand coming from the substitution effect this year, the discount should narrow further from here,'' said Ben Santoso, a plantations analyst at the brokerage arm of DBS Group Holdings, Singapore's largest bank. He said palm oil may reach the same level as soy by June.

Even the U.S., the world's largest soybean grower and exporter, is buying more palm oil. Soyoil is hydrogenated in some foods to make them last longer on store shelves, a process resulting in trans-fats that may raise the risk of heart disease, according to the Food and Drug Administration.

``Trans-fats are a big reason for more palm oil imports,'' Anne Frick, a senior oilseed analyst for Prudential Financial Inc. in New York, said in a Feb. 20 e-mail.

Less Momentum

U.S. palm oil imports may rise 13 percent to 790,000 tons in the 2007-2008 marketing season after a 17 percent gain the previous year, according to the USDA.

To be sure, world production of palm oil will gain 10 percent to 40.6 million tons in the year ending Sept. 30, the USDA estimates. To ABN Amro Holding NV, based in Amsterdam, that's a sell signal.

``We've turned bearish on the palm oil sector,'' said Nirgunan Tiruchelvam, an analyst at ABN Amro Asia Securities in Singapore.

Food consumption is driving the higher prices. Nisshin Oillio Group Ltd., Japan's biggest producer of edible oils, started selling palm-based product for home use on Feb. 18. The company expects sales of imported palm oil to rise 10 percent to 20 percent this year, said spokesman Yasuko Hoshino.

``Palm oil is conquering new markets,'' said Dorab Mistry, director at Godrej International, India's biggest vegetable oil importer, who has traded the commodity for more than 30 years.

To contact the reporter on this story: Claire Leow in Jakarta at [e-mail]

Last Updated: February 25, 2008 02:42 EST

[money_maker08] 24/2/2008 09:40

is this spurred by:

[melody9999] 21/2/2008 07:38

new PO price highs again today. predict this will break shortly - if the main markets are blue today this could be the day.

[mitzis] 15/2/2008 15:54

Any predictions end 2008..?

[ddav] 15/2/2008 14:01

The trees keep growing.

[nurdin] 15/2/2008 13:24

you lot are a bit quiet? We likely to go past £5 :o)

[woracle] 13/2/2008 10:50

Thanks, one of my brokers not managed to credit my account yet. Must chase them up !

[llados] 13/2/2008 10:49

Received divi on 5th Feb via Selftrade, worked out at .057 per share, hope that helps.

[woracle] 12/2/2008 23:56

anyone received their divi yet..if so, how many pence per share ?

[mitzis] 05/2/2008 13:53

notice buys outnumbered sells by 10 to 1 yesterday.

[woracle] 01/2/2008 20:34

So from Kulim's website today, NBPO did 274.5K tonnes CPO for the year. Just 1.5K more than I predicted in post 41. So sticking to my prediction of just over 300M Ringit pre-tax for the year. About EPS 25-26p excluding BA adjustment.

[mitzis] 01/2/2008 10:33

Its having a go thats for sure.

[login] 01/2/2008 09:40

Could easily spike up to 750, one never knows do one

[tonyx] 01/2/2008 09:30

Lots of big trades just gone through. Look like buys.

[uumode] 31/1/2008 19:24

It might very temporarily drop back to 390 or so in a major market panic like when the FTSE shed the highest amount since 911. (it will be so brief that you will miss it if you blink, as people pile in to fill their boots with cheap stock)IMHO

[mitzis] 31/1/2008 16:39

Wont get cheaper imo.

[cr4zyness] 29/1/2008 19:27

Probably the locusts that wanted in at cheaper price got in and are now long, always happens on so many boards seen it many times before, hope the shorters got burnt but that is probably a childish thing to post! What the hell ;)

I expect a torrent of NO IM STILL SHORT SHOUTS, truth is until maidens are released no one knows!!!!!